Auto Trader, a UK-based online car marketplace, recently announced their board of directors will be changed after Trevor Mather, their Chief Executive, retired following six years with the company.
The online classified ads group said recently that Nathan Coe, who is both its Chief Financial Officer and Chief Operating Officer, will be promoted to chief executive-designate from Wednesday, before taking over full time from next year.
Mr Coe, who joined Auto Trader in 2007 to oversee the transition from a magazine business to a purely digital company, will retain his responsibility for finance until taking up the chief executive role next year. “Nathan has effectively been running the business alongside me since 2017,” said Mr Mather. “I look forward to supporting the team over the coming year, and to watching Auto Trader’s continued success beyond that.”
The appointment comes as the group considers the next chapter of its 42-year history, with car manufacturers pushing for greater online presence to build closer relationships with their customers.
New ownership forms, such as fledgling subscription services or the ascent of ride-hailing, are also loosening the bonds of vehicle ownership that businesses such as Auto Trader are built on. Once an industry magazine with classified adverts for car sales, the company shifted to a digital business.
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